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Bloomberg Brazil’s top rental-car companies say a cultural shift towards sharing automobiles rather than owning them will bolster demand as growth quickens in Latin America’s largest economy. The three main providers of rental cars in Brazil have far outpaced the Ibovespa’s 11 percent advance in 2018. Cia de Locacao das Americas is up 85 percent, Localiza Rent a Car SA ...

GROZNY / WAM President Ramzan Kadyrov of the Chechen Republic received a delegation from Khalifa Fund for Enterprise Development (KFED), led by Hussain Jasim Al Nowais, Chairman of the Fund, and lauded the friendly relations and cooperation between the Chechen Republic and the UAE, and the success of these relations that support shared interests in various fields. “Zayed Fund for ...

AMMAN / WAM The UAE, represented by the Telecommunications Regulatory Authority (TRA), has chaired the 24th meeting of the Arab Spectrum Management Group (ASMG), which took place in the Jordanian capital Amman, with participation of 14 Arab countries. The meeting discussed a number of important topics related to preparation for the World Radiocommunication Conference (WRC), as well as other relevant ...

Abu Dhabi / WAM Masdar, the Abu Dhabi Future Energy Company, announced on Wednesday the installation of the first of 13 turbines at the 50 megawatt (MW) Dhofar Wind Farm. Located in the southern Omani governorate of Dhofar, the project is fully financed by Abu Dhabi Fund for Development (ADFD), the leading national entity for international development aid. The project ...

Dubai / WAM Etihad Credit Insurance (ECI), the UAE Federal export credit company, and the Ras Al Khaimah Chamber of Commerce and Industry, has signed a Memorandum of Understanding (MoU) to support the local business community, particularly those from the trade and export sectors. The MoU was signed by Mohammed Hassan Al Sabab, Acting Director-General of RAK Chamber, and Massimo ...

Bloomberg North and South Korea staged a symbolic ground-breaking ceremony to upgrade severed rail links, although UN Security Council approval would be needed to advance the project. Long-stalled plans to restore rail links severed by the Korean War were revived in historic summits by North Korea leader Kim Jong-un and South Korean President Moon Jae-in earlier this year. While South ...

Bloomberg Nissan Motor Co. updated its corporate governance code, a month after the shock arrest and indictment of former chairman Carlos Ghosn brought differences with partner Renault SA out in the open after a two-decade partnership. As part of the new code, Nissan clarified its policy on cross-shareholdings, in which two companies hold stakes in each other. The board will ...

Bloomberg Despite a flurry of disappointing data, the euro-area economy doesn’t necessarily face a bleak winter. Hidden behind figures that point to a protracted slowdown — such as yet another drop in German business confidence — are a few encouraging signs. For European Central Bank President Mario Draghi, pay gains, rising exports and receding problems in the auto industry offer ...

Bloomberg Mattel Inc extended its longest streak of daily declines since 2015 after Goldman Sachs analysts cut estimates following the toymaker’s loss of licensing for certain DC Comics products, including boys’ action toys. Spin Master Corp will be the new licensee for DC in the boy’s action category, remote control and robotic vehicles, water toys and games and puzzles, displacing ...

Bloomberg Britain’s Brexit limbo is helping to give Luxembourg’s booming funds industry a boost at the expense of jobs in the City of London. UK funds are racing to set up management units in the EU to avoid being locked out of the soon-to-be 27 nation bloc come March 29. And many are choosing tiny Luxembourg, which has already carved ...